(a) A trustee may resign:
(1) If the trust instrument expressly permits the trustee to resign, in accordance with the terms of the trust instrument;
(2) If the trust instrument neither expressly permits nor prohibits the trustee’s resignation, but establishes a procedure for the appointment of a successor trustee who shall be willing and able to serve as such, upon 30 days written notice to the beneficiaries and any co-trustees; or
(3) In all other cases, with the approval of the Court of Chancery.
(b) A beneficiary or co-trustee may waive the notice otherwise required by this section.
(c) In approving a resignation, the Court of Chancery may impose orders and conditions reasonably necessary for the protection of the trust property, including the appointment of a special fiduciary.
(d) Any liability of a resigning trustee or of any sureties on the trustee’s bond, if any, for acts or omissions of a resigning trustee is not discharged or affected by the trustee’s resignation.
72 Del. Laws, c. 388, § 6; 74 Del. Laws, c. 82, § 7.
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